SIFCO Industries Inc Stock Forecast
Stronger technical forecast for SIFCO Industries Inc stock price after Thursday trading.
(Updated on Apr 18, 2024)
The SIFCO Industries Inc stock price fell by -0.97% on the last day (Thursday, 18th Apr 2024) from $3.08 to $3.05. During the last trading day the stock fluctuated 3.95% from a day low at $3.04 to a day high of $3.16. The price has fallen in 7 of the last 10 days and is down by -5.86% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 thousand shares and in total, 669 shares were bought and sold for approximately $2.04 thousand.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $2.94 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect SIFCO Industries Inc stock with a 90% probability to be traded between $2.89 and $3.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SIF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, February 20, 2024, and so far it has risen 2.01%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SIFCO Industries Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.10 and $3.13. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SIFCO Industries Inc stock
SIFCO Industries Inc finds support from accumulated volume at $3.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.120 between high and low, or 3.95%. For the last week the stock has had daily average volatility of 3.23%
Our recommended stop-loss: $2.89 (-5.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (SIF) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect SIFCO Industries Inc to open at $3.08, and during the day (based on 14 day Average True Range), to move between $2.95 and $3.15, which gives a possible trading interval of +/-$0.0953 (+/-3.12%) up or down from last closing price. If SIFCO Industries Inc takes out the full calculated possible swing range there will be an estimated 6.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.03 (0.66%) than the resistance at $3.09 (1.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SIFCO Industries Inc stock A Buy?
SIFCO Industries Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.130 Hold/Accumulate Upgraded
Predicted Opening Price for SIFCO Industries Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $3.08 ( 1.09%) | $3.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SIF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.20 | 5.03 % | |
| R2 | 3.16 | 3.52 % | ||
| R1 | 3.13 | 2.60 % | ||
| Current price: | 3.05 | |||
| Support | S1 | 3.04 | -0.410 % | |
| S2 | 3.01 | -1.34 % | ||
| S3 | 2.96 | -2.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.31 | 8.52 % | |
| R2 | 3.20 | 4.92 % | ||
| R1 | 3.09 | 1.31 % | ||
| Current price | 3.05 | |||
| Support | S1 | 3.03 | -0.656% | |
| S2 | 3.02 | -0.98% | ||
| S3 | 3.01 | -1.31% |
SIF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 24, 2014 | Nov 04, 2014 | Nov 20, 2014 | $0.200 | 0.596% |
| 2 | Sep 27, 2013 | Nov 05, 2013 | Nov 21, 2013 | $0.200 | 0.91% |
| 3 | Sep 26, 2012 | Oct 31, 2012 | Nov 16, 2012 | $0.200 | 1.34% |
| 4 | Oct 03, 2011 | Nov 02, 2011 | Nov 18, 2011 | $0.200 | 1.01% |
| 5 | Oct 01, 2010 | Nov 09, 2010 | Nov 26, 2010 | $0.150 | 1.13% |
FAQ
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